January 27, 2014 / 2:15 PM / in 4 years

Telecom Italia CEO says no plans for rights issue

MILAN, Jan 27 (Reuters) - Telecom Italia’s CEO Marco Patuano said on Monday there were no plans for a rights issue, rejecting media speculation that the group could consider a capital increase to cut debt.

“There is no hypothesis of a capital increase on the table,” he told reporters on the sidelines of an event.

Asked about Egyptian tycoon Naguib Sawiris’ possible interest in investing in Telecom Italia and acquiring its Brazilian unit TIM Brasil, Patuano said: “I don’t know anything about it, I have read it in the newspapers.”

Reporting by Gianluca Semeraro, writing by Danilo Masoni

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